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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
May 31, 2021
May 31, 2020
May 31, 2019
Revenues:      
Cloud services and license support $ 28,700 $ 27,392 $ 26,707
Cloud license and on-premise license 5,399 5,127 5,855
Hardware 3,359 3,443 3,704
Services 3,021 3,106 3,240
Total revenues 40,479 39,068 39,506
Operating expenses:      
Cloud services and license support [1] 4,353 4,006 3,782
Hardware [1] 972 1,116 1,360
Services 2,530 2,816 2,853
Sales and marketing [1] 7,682 8,094 8,509
Research and development 6,527 6,067 6,026
General and administrative 1,254 1,181 1,265
Amortization of intangible assets 1,379 1,586 1,689
Acquisition related and other 138 56 44
Restructuring 431 250 443
Total operating expenses 25,266 25,172 25,971
Operating income 15,213 13,896 13,535
Interest expense (2,496) (1,995) (2,082)
Non-operating income, net 282 162 815
Income before benefit from (provision for) income taxes 12,999 12,063 12,268
Benefit from (provision for) income taxes 747 (1,928) (1,185)
Net income $ 13,746 $ 10,135 $ 11,083
Earnings per share:      
Basic $ 4.67 $ 3.16 $ 3.05
Diluted $ 4.55 $ 3.08 $ 2.97
Weighted average common shares outstanding:      
Basic 2,945 3,211 3,634
Diluted 3,022 3,294 3,732
[1] Exclusive of amortization of intangible assets, which is shown separately.